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CANADIAN AMAYA GAMING GROUP TO INVEST $28 MILLION IN ESTABLISHING NATIONAL ARMENIAN LOTTERY
/ARKA/
OCTOBER 27, 2011
YEREVAN
YEREVAN, October 27. /ARKA/. Armenian finance minister Vache Gabrielian
said today the government will introduce a national
lottery patterned from Sportloto lottery run during the Soviet times.
He said the government and the Canadian Amaya Gaming Group will set
up on a parity basis a joint company Amaya Armenia with a capital of
200 million drams.
He said the Canadian company will invest $28 million in the form
of technological equipment, and the income from the lottery will be
distributed equally between the shareholders. The minister said it
will secure annually several billion drams in additional revenue,
2 billion drams in 2012, and 7 billion in 2013.
The government is planning also to collaborate with the Canadian
company in the establishment of centralized system of control and
accounting to prevent fraud, money laundering and other forms of
economic crime. He said in the first stage the Canadian company
will provide $4 million worth equipment which later will pass to
the government.
As of January 1, 2011 there were 90 effective licenses for the
organization of gambling games in Armenia, including casions and
lotteries. ($1 - 378.42 AMD).
/ARKA/
OCTOBER 27, 2011
YEREVAN
YEREVAN, October 27. /ARKA/. Armenian finance minister Vache Gabrielian
said today the government will introduce a national
lottery patterned from Sportloto lottery run during the Soviet times.
He said the government and the Canadian Amaya Gaming Group will set
up on a parity basis a joint company Amaya Armenia with a capital of
200 million drams.
He said the Canadian company will invest $28 million in the form
of technological equipment, and the income from the lottery will be
distributed equally between the shareholders. The minister said it
will secure annually several billion drams in additional revenue,
2 billion drams in 2012, and 7 billion in 2013.
The government is planning also to collaborate with the Canadian
company in the establishment of centralized system of control and
accounting to prevent fraud, money laundering and other forms of
economic crime. He said in the first stage the Canadian company
will provide $4 million worth equipment which later will pass to
the government.
As of January 1, 2011 there were 90 effective licenses for the
organization of gambling games in Armenia, including casions and
lotteries. ($1 - 378.42 AMD).